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BioHealth InvestorBioHealth Investor (BHI) is a blog and journal focused on providing updated commentary and financial news from the biotech and medical technology industry. BHI's content is featured on Yahoo!Finance, Google Finance, TheStreet.com, SeekingAlpha.com and many other blogs and websites. BHI is also a proud member of The Business of Biotech Network, and the Investors Blog Network. |
Biowatch Alert: Arqule Could See 15% Gain Ahead Of Asco
Posted on 05/21/2007 08:12:43 | Link | Post Comment
by Hisham S. Ayoub, DMD
BioHealth Investor.com
In an earlier post, I commented on the preliminary results of studies given to doctors who are members of the American Society of Clinical Oncology (ASCO) ahead of their major meeting in June.
One company not mentioned was ArQule, Inc. (ARQL), a small biotech firm investigating ARQ 197, a promising small molecule that has been shown in pre-clinical testing to inhibit c-Met, thus inhibiting the metastatic growth of cancer. So far, the company has shown ARQ 197 to inhibit the growth of human lung cancer cells.
In the upcoming June 1 meeting of ASCO members ArQule is expected to announce clinical results of the ARQ 197 study in humans. Looking at the company's stock price chart it seems that investors are betting on positive results.
The stock closed on Friday at $9.02 a share, up almost 5% on twice the 3-month daily average. I personally think that with the hype leading up to the ASCO meeting, and that insiders were buying as late as March, a return to the 52-week high of $10.59 reached on May 3rd is not out of the question. That would equal a decent gain of 17% from Friday's close.
Investors looking to gain on the hype leading up to ASCO might do well with taking a small position in ArQule on Monday, holding through the next two weeks, and selling a day or two ahead of the company's presentation at ASCO.
There's no need to hold through the actuall release of results as the hype leading up to it could very well have infused most of the upside gains into the stock price.
ArQule has made it on the BioWatch Alert list, and will be tracked by BHI for the next two weeks.
Source: BioHealth Investor.com
RELATED READING:
- Is Early Release of Study Data to Doctors Unfair?
______________________
BioHealth Investor.com
In an earlier post, I commented on the preliminary results of studies given to doctors who are members of the American Society of Clinical Oncology (ASCO) ahead of their major meeting in June.One company not mentioned was ArQule, Inc. (ARQL), a small biotech firm investigating ARQ 197, a promising small molecule that has been shown in pre-clinical testing to inhibit c-Met, thus inhibiting the metastatic growth of cancer. So far, the company has shown ARQ 197 to inhibit the growth of human lung cancer cells.
In the upcoming June 1 meeting of ASCO members ArQule is expected to announce clinical results of the ARQ 197 study in humans. Looking at the company's stock price chart it seems that investors are betting on positive results.
The stock closed on Friday at $9.02 a share, up almost 5% on twice the 3-month daily average. I personally think that with the hype leading up to the ASCO meeting, and that insiders were buying as late as March, a return to the 52-week high of $10.59 reached on May 3rd is not out of the question. That would equal a decent gain of 17% from Friday's close.
Investors looking to gain on the hype leading up to ASCO might do well with taking a small position in ArQule on Monday, holding through the next two weeks, and selling a day or two ahead of the company's presentation at ASCO.
There's no need to hold through the actuall release of results as the hype leading up to it could very well have infused most of the upside gains into the stock price.
ArQule has made it on the BioWatch Alert list, and will be tracked by BHI for the next two weeks.
Source: BioHealth Investor.com
RELATED READING:
- Is Early Release of Study Data to Doctors Unfair?
______________________
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